Farmers’ Businesses Provide Easy Credit Sources Of Funds
Farmers and farmers’ co-opera-tives in the United States are provided . a constant, reliable source of funds at low interest through the U.S.A. Government’s farm credit system. Established in 1917 by an act of Congress and increased in scope in 1933, the system has proved of particular value to farmers in poor harvest yea,rs when they needed money most but had difficulty in obtaining commercial loans. Both long-term and loans at low interest are available to farmers and farmers’ co-opera-tive business associations under the system supervised by the Farm Credit Administration, an agency of the U.S. Department of Agriculture. A farmer obtains a long-term farm mortgage loan from the national farm loan association serving his county. There are 1,200 such asociations in the United States: He can borrow moneys to buy land,' farm buildings, equipment, fertilisers, and livestock, or to refinance indebtedness incurred more thantwo years before the loan is sought.
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https://paperspast.natlib.govt.nz/newspapers/BPB19491209.2.37
Bibliographic details
Bay of Plenty Beacon, Volume 14, Issue 74, 9 December 1949, Page 6
Word Count
158Farmers’ Businesses Provide Easy Credit Sources Of Funds Bay of Plenty Beacon, Volume 14, Issue 74, 9 December 1949, Page 6
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